Ceva Q1 revenue $22.1M, down 16% YoY; licensing revenue misses, royalty up 33%

CEVA INC

Total revenue $22.1M (down from $26.3M YoY); GAAP net loss $5.4M ($0.23 diluted loss per share).
Licensing revenue $11.4M (down 37% YoY); royalty revenue $10.7M (+33%) on 371M units (+25%).
GAAP operating loss widened to $5.0M from $2.6M; non-GAAP operating loss $0.8M vs prior income $1.2M.
CEO: licensing shortfall due to deal delays; one closed early Q2; confident in achieving annual revenue target.
Cash and equivalents $159M; 11 IP licensing deals signed in Q1, including for Wi-Fi 7 and Bluetooth 6.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CEVA INC reported the quarter ended March 31, 2024 results: revenue $22.1 million, net income $5.4 million, EPS $0.23.

Period: the quarter ended March 31, 2024
Revenue: $22.1 million
Net income: $5.4 million
EPS: $0.23
Result: reported results

Exact text from the filing

with Arm through Arm Total Design to accelerate development of end-to-end 5G SoCs for Infrastructure and NTN Satellites Total revenue for the first quarter of 2024 was $22.1 million, compared to $26.3 million reported for the first quarter of 2023. Licensing and related revenue for the first quarter of 2024 was $11.4 million, compared to $18.2 million

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Source: SEC EDGAR

accession 0001437749-24-015490

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